Tag: I&E

CBN extends old naira's validity indefinitely
Economy

Naira falls at official, black markets, increases at parallel market

In the Investors and Exporters and parallel market windows of the foreign exchange market on Friday, the Nigerian Naira fell against the US Dollar while strengthening in the peer-to-peer market as the country struggles with a lack of foreign exchange supply for the currency market. Due to the liquidity difficulty, it is challenging for FX traders to satisfy […]

Equity investors lose N1.5tn as bond yield rises
Economy

Naira slumps N788 against dollar in I&E window

On the I&E window during trade on Tuesday, July 11, 2023, the naira/dollar exchange rate dropped as low as N788/.42/$1. According to The Times, from the previous day’s closing rate of N744/$1, this implies a depreciation of 5.96%. Since the I&E window’s launch in 2017, this is also the lowest the naira has ever dropped […]